The agreement inked in Friday in Russia calls for the companies to work out the details for at least one project by 1 March.

The state-led Latin American producer has been pursuing the Russian player as a partner for the Vaca Muerta shale since the company was renationalised in 2012.

The two countries signed a previous co-operation pact in April in the presence of Argentine president Cristina Fernandez de Kirchner and Russian counterpart Vladimir Putin.

The